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Swing Trade Idea – November 9, 2021

Market Setup 

•Global markets are mixed with USA mixed, Japan red, Europe green, Hong Kong green, China red and Asia mixed.

•Yield curve flatter with long rates lower – good for tech bad for financials

•US dollar higher relative to Euro – usually negative

•News: USA: PPI premarket, Powell speaking; Brainard meme for Fed chair growing;

•Stocks: GE splitting into 3 companies; HOOD security breach; LAZR chosen by NVDA for auton driving; EVGO deal with GM; Earnings NEWR RBLX TDUP REAL FIVN PYPL PLTR

•Indices: USA large cap indices are flat premarket led by QQQ and IWM lagging. SPX call wall 4700 is resistance High gamma should keep the range < .7%

•Sectors: Leading: Bitcoin, Semiconductors, TLT, IPOs  Lagging: airlines, silver, China internets, healthcare

•Stocks to watch: GE F NVDA AMD PYPL HOOD TSLA   Spec Names: EVGO LAZR RBLX TDUP NEWR PLTR

Stocks to Watch

Earnings ACAD AMC AMRS APLS ARVL BEKE BLDP DDD ENVX  FIVN FSK IFF LMND NVTA OSH PYPL RBLX REAL SPCE TRIP BNTX BSY CAH CANO DHI FOLD GLNG IGT IIVI ISEE LAC MLCO OWL PLTR PRPL SAVA STWD SYY NEWR

Indices /BTC BLOK SMH TLT ICLN IPO XLE yen EWZ XLK QQQ JETS SLV KWEB XLV PRNT DIA

S&P500 GE NVDA XLNX F AMD MU VMC ETSY TSLA SJM CAH MRK PYPL IBM VTRS SBUX NUE AAL DAL ODFL ROL AEP

Movers NEWR LAZR  TDUP PVG REAL FIVN ENVX RIOT ZYNGA NVDA THC CANO LCID AMRS SDC WPRT NVRO LMND PYPL PLTR

WSB RBLX RIOT NVDA MVIS GOEV F ANY AMD HUT SKLZ GME SDC ARVL AMC HOOD PLTR OCGN PLUG CLOV 

Idea MU:

MU is breaking out of a downtrend and some unusual option volume with long term calls being bought. MU has been a laggard due shortages of other components however it looks like accumulation is underway. Seeing Jan 2022 and 2023 80 and 85 calls being acquired